TDS on Loan Interest

[Ramesh Kumar]

Dear Sir,

We are Loan taken from TATA Finance how do deduct TDS  interest on repayment.

Thanking You

AI Summary

Understanding TDS on Loan Interest Repayments: Key Insights and Procedures for Engaging with Finance Companies A user inquired about the process of deducting Tax Deducted at Source (TDS) on loan interest repayments to TATA Finance. In response, one participant mentioned that similar cases with other finance companies involve the assessee paying the tax on interest and seeking reimbursement by presenting challans to the companies. It is suggested to contact TATA Finance for their specific procedure. Another participant clarified that TDS is applicable only on the interest component of the repayment, not on the principal amount.